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Thailand's AIS Q2 net profit rises 16%, tops forecasts

Advanced Info Service PCL (AIS) , Thailand's largest mobile operator, said its second-quarter net profit rose 16 per cent due to higher service revenues and lower regulatory costs.

PHOTO: BLOOMBERG

[BANGKOK] Advanced Info Service PCL (AIS) , Thailand's largest mobile operator, said its second-quarter net profit rose 16 per cent due to higher service revenues and lower regulatory costs.

Net profit was 9.85 billion baht (S$387 million) for the April-June quarter, it said on Monday, higher than the 9.26 billion baht average forecast in a Reuters poll of 12 analysts. This compared with 8.48 billion baht a year earlier.

AIS, 23 per cent owned by Singapore Telecommunications Ltd , now aims for service revenue growth of 3 per cent this year, versus an earlier forecast of 3-4 per cent, it said in a statement. It has reduced its investment budget to 36 billion baht from 40 billion baht, it added.